HiSoft acquires Beijing based Besure Technologies
HiSoft Technology International (Nasdaq: HSFT), an IT outsourcing firm headquartered in Dalian, China, announced today it has acquired Besure Technology for an undisclosed amount.
Headquartered in Beijing with over 140 employees, Besure specializes in helping clients implement SAP enterprise applications.
Commenting on the acquisition, Tiak Koon Loh, HiSoft's CEO, said, "This development is a natural complement to our core product line and will allow us to provide more sophisticated services to our clients."
This is the HiSoft's second acquisition since its IPO in June. In July, the company bought Insurance Systems Laboratory, a Japanese firm that is involved in IT consulting for insurance companies.
The Besure deal closed on October 1, 2010, with certain thresholds satisfied in early November. The acquisition is expected to be accretive to its 2010 financial results, the company said.
On Thursday, HiSoft's share price has moved higher by 5.6% to trade at $27.26 as of 10:47 am ET.
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